Dow Jones to merge television channel with CNBC
Tuesday 09 December 1997
Dow Jones, owner of the Wall Street Journal, has a 70 per cent stake in EBN. Flextech, the cable and satellite programmer, has the remaining shareholding. Flextech is to retain its interest, but as a passive investor with no further funding obligations. Flextech said in August that it planned to save pounds 4m a year by discontinuing its investment in EBN. Dow Jones also owns Asia Business News, which is likely to form part of the new entity.
Both CNBC Europe and EBN are understood to make big losses. Some elements of the Bancroft family, which controls Dow Jones, have reportedly expressed concern at the resources soaked up by the group's international TV business. EBN, which launched two years ago, features programmes such as Your Money, a personal finance show; and Media Report, a media news bulletin. The channel broadcasts in English and German, with a half-hour programme three times a week in French.
CNBC Europe set up a year later than EBN, and runs programmes like European Money Wheel and FT Business Tonight. Financial Times Television (FT-TV) recently laid off more than 50 staff in anticipation of the loss of its daily programming contract with CNBC Europe. EBN is expected to replace FT-TV's programmes.
- 2 Friends 20th anniversary: Alison Jackson photographs reunited cast
- 3 There is literally not a single woman in this iPhone 6 queue
- 4 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
- 5 Scottish independence: Tory revolt against 'devo max' grows as Rail Minister Claire Perry joins
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: The Queen breaks silence on referendum debate – as think tank warns of £14bn black hole if Scotland votes Yes
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...